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Identifying income and wealth-poor households in the euro area
Müller, Philip; Schmidt, Tobias - 2015
from the 2010 Household Finance and Consumption Survey (HFCS). We are particularly interested in the way in which specific …
Persistent link: https://www.econbiz.de/10011373659
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The interest rate exposure of euro area households
Tzamourani, Panagiota - 2019
document substantial heterogeneity across these dimensions. The median household in the euro area has a positive interest rate …
Persistent link: https://www.econbiz.de/10011963126
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Distributional consequences of asset price inflation in the euro area
Adam, Klaus; Tzamourani, Panagiota - 2015
households using data from the Household Finance and Consumption Survey (HFCS). The capital gains from bond price and equity … price increases turn out to be concentrated among relatively few households, while the median household strongly benefits … from housing price increases. The capital gains from bond price increases (relative to household net wealth) do not …
Persistent link: https://www.econbiz.de/10011316626
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Household saving behavior and credit constraints in the Euro area
Le Blanc, Julia; Porpiglia, Alessandro; Teppa, Federica; … - 2014
We study the role of household saving behaviour, of individual motives for saving and that of perceived liquidity … constraints in 15 Euro Area countries. The empirical analysis is based on the Household Finance and Consumption Survey, a new … harmonized data set collecting detailed information on wealth holdings, consumption and income at the household level. Since the …
Persistent link: https://www.econbiz.de/10010388544
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How do households allocate their assets? : stylized facts from the eurosystem household finance and consumption survey
Arrondel, Luc; Bartiloro, Laura; Fessler, Primin; … - 2014
Using the Household Finance and Consumption Survey (HFCS), a large micro-level dataset on households’ wealth in fifteen … participation as well as levels of asset holdings and investigate the systematic relationships between household characteristics and …
Persistent link: https://www.econbiz.de/10010384151
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National accounts revisions and output gap estimates in a model of monetary policy with data uncertainty
Mahadeva, Lavan (contributor); Muscatelli, Alex (contributor) - 2005
This paper looks at some implications of data uncertainty for monetary policy. We combine national accounts data revisions with optimal control and filtering experiments on a calibrated model to discuss policy implications of price-versus-volume data uncertainty in GDP data for the United...
Persistent link: https://www.econbiz.de/10003384150
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Asymmetric credit growth and current account imbalances in the euro area
Unger, Robert - 2015
The euro area crisis is often linked to the emergence of current account imbalances. As most of the deficit countries experienced pronounced credit booms at the same time that these imbalances were building up, this paper investigates the link between domestic credit developments and the current...
Persistent link: https://www.econbiz.de/10011373649
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Fiscal devaluation in a Monetary Union
Engler, Philipp; Ganelli, Giovanni; Tervala, Juha; … - 2013
Between 1999 and the onset of the economic crisis in 2008 real exchange rates in Greece, Ireland, Italy, Portugal and Spain appreciated relative to the rest of the euro area. This divergence in competitiveness was reflected in the emergence of current account imbalances. Given that exchange rate...
Persistent link: https://www.econbiz.de/10010221275
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Bank loan supply shocks and alternative financing of non-financial corporations in the euro area
Mandler, Martin; Scharnagl, Michael - 2019
We analyse the macroeconomic effects of exogenous contractions in bank lending to non-financial corporations in the Euro Area, Germany, France, Italy and Spain using a Bayesian vector autoregressive model with endogenous hyperparameter selection and identification via sign restrictions. We focus...
Persistent link: https://www.econbiz.de/10012034573
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Cross-border banking and business cycles in asymmetric currency unions
Dräger, Lena; Proaño Acosta, Christian - 2015
Against the background of the recent housing boom and bust in countries such as Spain and Ireland, we investigate in this paper the macroeconomic consequences of cross-border banking in monetary unions such as the euro area. For this purpose, we incorporate in an otherwise standard two-region...
Persistent link: https://www.econbiz.de/10011299044